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Newly released footage of billionaire James Packer and Nine CEO David Gyngell brawling on the street in Bondi is attracting widespread media attention. Photos/video: Media Mode.

The fist fight between the billionaire and television executive was said to be over supermodel and former Victoria's Secret model Miranda Kerr.

So is it little wonder that Fleet Street newspapers and publications as varied as The Hollywood Reporter, the Times of India, the South China Morning Post and an Irish women's website have given blow-by-blow accounts of the pair's violent showdown outside Packer's multimillion-dollar beach pad?

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"They look for all the world like two drunken louts brawling in the gutter after being ejected from a seedy pub," London's The Independent reported under the headline "Billionaire Fight Club" on Monday, alongside a photograph of Packer, Australia's richest man, wearing a pair of dark sunglasses.

"But the fight – captured in photographs which are set to go viral – took place between two of Australia’s leading businessmen, the billionaire James Packer and the TV executive David Gyngell, two men who were once the closest of friends."

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The Hollywood Reporter played up Packer's business relationship with Hollywood filmmaker Brett Ratner, who is behind films including the Rush Hour series, X-Men: The Last Stand, The Family Man and Red Dragon.

Packer and Ratner in 2012 former a joint venture, RatPac Entertainment, to produce independent films and co-produce studio films.

A tearout of the front page of The NT News. The images were taken by Brendan Beirne and Sione Chown, and handled by Media Mode.

Sunday's brawl could have come straight from one of their action movies, The Hollywood Reporter said. As it turns out, Packer was wearing a cap bearing the logo of his film production company during the brawl.

A tearout of the front page of Tuesday's The Daily Telegraph. The images were taken by Brendan Beirne and Sione Chown, and handled by Media Mode.

"Two 40-something men are engaged in a violent street brawl, which only ends when they are pried apart by a shocked bodyguard.

"It's a scene that might play out in a Brett Ratner movie. Instead, the action centers on Ratner's real-life Australian partner in RatPac Entertainment, billionaire gambling magnate James Packer, and his childhood friend and Nine Entertainment CEO, David Gyngell."

In Ireland, the Independent Woman website ran the story prominently below a photograph of Miranda Kerr, Packer's rumoured new girlfriend.

Packer and Gyngell were believed to be fighting after a Channel Nine van was seen parked near Packer's beachside retreat, which Packer believed was there to film a possible visit from Kerr. It turned out the Channel Nine employee lived nearby and had taken the work van home ahead of an early-morning job the following day.

"Fighting over Miranda - Two Australian tycoons' brawl on Bondi Beach footpath over world-renowned supermodel," the Independent Woman story read.

Photographs of the pair trading punches proved to be a headline writers' dream, and the press coverage may end up being more painful for the pair than the physical fall-out.

Never known for its subtlety, the Northern Territory News screamed from its front page: "WHY I'VE GOT A PACKER UP MY CLACKER".

It was a reference to an infamous front-page headline the newspaper ran in 2012 about a man who suffered serious burns when a firecracker exploded in his backside. That headline read: "WHY I STUCK A CRACKER UP MY CLACKER".

The Northern Territory News, a News Corp Australia publication, also joked to its Twitter followers: "WHO WANTS TO BEAT A MILLIOINAIRE?", and claimed the story was "Fist on Nine".

News Corp is believed to have paid more than $200,000 for photographs and video footage of a punch-up, and The Daily Telegraph ran nine pages on the spat on Tuesday. Heavily watermarked images were also running on News Corp websites.

Packer and Gyngell issued a joint statement on Monday saying they had been friends for 35 years “and still are”, adding that “in that time we have had our fair share of ups and downs”.